The final week of 2021 has come and gone, and it ended up being somewhat telling. The expected “Santa Claus rally” on Wall Street of course happened, but that is an almost yearly phenomenon that almost has a certain AMount of self-fulfilling prophecy built into it.
What has been a bit more interesting is the fact that the omicron variant fears seem to have come and gone, as crude oil has turned around completely and certainly looks as if it is one of the strongest markets out there. For what it is worth, crude oil looks as if it is ready to make a move back towards the highs found just a few weeks back. With the large money banks going back to work next week, you will start to see more liquidity enter the market, making more reliable and consistent moves, culminating with the jobs report on Friday in the United States.
1:45 AM – China Caixin mfg PMI (December)
8:55 AM – German unemployment
3:00 PM – US ISM mfg PMI (December)
3:30 PM – US EIA crude oil inventories
7:00 PM – FOMC minutes
10:00 AM – eurozone inflation
1:30 PM – US non-farm payrolls